Daily Market Direction for LO Strategy

Discussion in 'Indicators and Charting' started by chris4321234, Dec 12, 2016.

  1. garry

    garry the art of war

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    well that gets your opinion out the way ,sterling suhur the guy behind the website ,dig deep
    seek and you shall find
     
  2. garry

    garry the art of war

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    not taking the piss but could u share how u go about ,taking a trade with your strat/ set up .
    i will break it down to a 80% chance of your bias direction of the l/o open move
     
  3. chris4321234

    chris4321234 Active Member

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    To ballsdeep,
    sorry I didnt understand exactly what, you wrote. Did you mean that your win % at the LO direction is 80%?
     
  4. Peterma

    Peterma Well-Known Member

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    Shop, no disappointment, the opposite.

    Comp, I like the "golden retriever" piece, one of those guru guys on fxstreet a few years back likened PA to an old guy getting out of the bath, he does it slowly, methodically, and often slips back in. (glad I just use the shower).

    Anyways, the TA/FA thing is what Trump calls fake news, PA is very much algo driven, you younger guys cannot be bothered to make phone calls, heck even press some buy or sell buttons, the robot does it all.

    The thread title is what drew my attention, and it just so happened that it was Friday morning and a major news release at LO (well it was London news so best time to release I suppose). So all the chart studying before LO was vital, that site says 'smart money' and 'deep pockets' so any hint from these guys was vital.

    Problem is we don't know their mindset since they handed their thinking over to some robot.

    I mentioned that price reacted to the shock and horror of the miss, it was retail sales and absolutely no one expected a miss, I mean how could they?

    Paul Martin, Head of Retail, KPMG: “Performance in January is likely to have left retailers feeling a little deflated"

    Quote on some website who could not possibly know anything about retail sales, published back on Feb 7:

    http://brc.org.uk/retail-insight-analytics/retail-sales-reports/retail-sales-monitor/reports

    That was the FA part, the robot hasn't the wit to know where to stop, over to TA for that. (btw notice where they had told it to stop, just shy of the fig)

    Another BTW, Shop's post shows 5 trades on the action, perhaps one would register as the easier to anticipate.

    See where he has the c2e with the little check mark, that's the fake news, that is for the chasers who missed out and went long, check the number where the robot was told to go.
    Shop's indicator at the bottom was calling it fake, currently GBP/JPY is a GBP strength meter, it too was calling fake.

    Wow - that was a long post, time for a bath.
     
  5. rod178

    rod178 Well-Known Member

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    I've never been able to find anything substantially negative on Sterling Suhr, please illuminate me.

    http://www.forexpeacearmy.com/forex-reviews/10326/www.daytradingforexlive.com?sort=created_at&per-page=10

    I actually signed up to his course, mostly on curiosity, on the usual 30 day money back guarantee. Did the course, which was basically very similar to my own strategy except that it is NYO centric, and asked for the money back after 28 days. Received the full refund no questions asked, including a very friendly response.
     
  6. garry

    garry the art of war

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    fair play rod
     
  7. garry

    garry the art of war

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    post a chart or explain your set up for l/o,lets start there
     
  8. chris4321234

    chris4321234 Active Member

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    Theres nothing, special to see in my chart, just 2 lines. The daily open price and the London open price and the asian range.
    I think theres nothing more needed.
    No indicator bling bling could give me any edge.
    I think, your chart would be more helpful, if you want to explain your strategy.
     
  9. Chrisrocs

    Chrisrocs Well-Known Member

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    So you have the perfect edge - what are the point of your inquiries then? :p

    Go make millions.
     
  10. garry

    garry the art of war

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    same as my thinking chrisrocs,total waste of time ,3 years and two lines trying to catch a move in l/o ,no wonder ict and the likes, make money fleecing these dreamers .
     
  11. chris4321234

    chris4321234 Active Member

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    In 3 years, I learned what works, and what doesnt. Tried a lot of stuff, most of it was bullshit.
    I opened this thread hoping, that someone in this forums, knows something usefull, that would help me with the LO.
    Now you 2 bitter, sarcastic, trolls came along, telling me that I wasted my time and you know it all.
    If you figured it all, out, why you dont share it and provide some usefull inforamtion.

    But instead you post some useless phrases going back and forwards, like we are in some fucking ping pong match.
    You write as if you know it all, if thats the case share it, if not, should the fuck up.
    Im here to grow as a trader, not to have some stupid backyard-school figths with people on the other side of the world.

    You know something helpful for this thread, write it, you dont know shit or you dont want to share it, write nothing.
     
  12. garry

    garry the art of war

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    when it goes up keep buying ,when it goes down keep selling
     
  13. rod178

    rod178 Well-Known Member

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    for intra day trading, not really
     
  14. Computater707

    Computater707 Well-Known Member

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  15. Peterma

    Peterma Well-Known Member

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    It's amazing how everything rotates in cycles. Back in the day everyone was running around naked trading, then they invented indies and there were dozens of lines, it became the in thing.

    Now it's kinda posh to state that I'm naked once again.

    So back to Eur/Gbp, and the most recent LO. My guess is that a day trader needs to know when the move is fake news, and a simple indie like ZL macd helps so why not use it, forget the naked hype.

    First up Eur/Usd - at LO the indie was crossing down, price was breaking the Asian low, no sign of Eur strength

    Then Gbp/Jpy, LO price had just hit a dbl bottom and printed a wick, the indie started to go north along with price, sign of GBP strength.

    The salmon vert is LO, price came back for a second peek (old man and bath) but the indie was saying no way jose, GBP strength


    Then cable, at LO price was falling - but check the indie - fake news, don't sell cable with this.

    And finally the object of my desire - Eur/Gbp - remember that I want to see GBP weakness, long story, but at LO there was no sign - right at LO the indie printed a lower low just as price reached a dbl top, just like Gbp/Jpy.

    Btw, LO is around the end of the shaded area.
     

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  16. chris4321234

    chris4321234 Active Member

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    Hi Peterma,

    thank you for sharing this.
    Can I ask you how long do you use this method-indi and whats your win%?
     
  17. rod178

    rod178 Well-Known Member

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    Interesting Indicator. Do you use it as a trend filter?
     
  18. Peterma

    Peterma Well-Known Member

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    I don't have a win/loss rate, I have a right/wrong rate.

    I don't trade Eur/Gbp the same direction or the same way as you, it is not that I'm one of those smart ass guys who say they take the opposite side of retail money.

    I mentioned a long story and looking for GBP weakness, it happens that currently I have to buy the actual Gbp's and sell Euros, so the more the pound falls the more often I buy.

    In my game there is no win or loss, just right and wrong, if I buy the pounds and they rise and keep rising then I'm wrong. (a bit like your LO trade)

    I use FA and TA to decide direction, then try to get the timing right.

    Usually when I'm right it's just plain luck, and when I'm wrong it's just plain greed, the luck is great, the greed I'm working on.
     
  19. Computater707

    Computater707 Well-Known Member

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  20. chris4321234

    chris4321234 Active Member

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    Can you tell me what FA and TA means, I dont get it.
     

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